Cascador Boosts Nigerian Startups with $3M in Growth Funding

Cascador, a Lagos-based accelerator dedicated to scaling mid-stage Nigerian businesses, has awarded more than $3 million in debt funding to nine promising startups to help them expand operations and compete on a global level.

The funding was announced during the programme’s first-ever Pitch Day, where selected alumni presented their growth plans to investors and industry experts.

Startups benefiting from this round include Crop2Cash, Oriki, N.E.A.T, Adunni Organics, Sycamore, DoChase, Drive45, 24Seven, and ExCare. All recipients are graduates of Cascador’s intensive training programme, which has supported around 60 companies since its launch in 2019.

“This funding is tailored for our alumni only,” said Trish Thomas, CEO of Cascador. “The nine finalists you see today collectively secured over $3 million in debt and equity financing.”

Thomas explained that many of the companies operate in high-impact sectors like manufacturing and agriculture. The accelerator’s flexible funding model avoids traditional venture capital structures, instead offering solutions aligned with real business needs.

“Many of these entrepreneurs aren’t looking for equity—they need capital to support expansion and operational growth,” she added.

To facilitate access to credit, Cascador partnered with Sterling Bank to offer tailored loans. Approximately 74% of participating businesses opted for debt financing, prompting the creation of favourable terms including reduced interest rates and relaxed collateral requirements.

“We’re breaking down barriers by working with Sterling Bank to make loans more accessible,” Thomas said. “Interest rates are capped around 20%, and repayment terms can stretch up to five years with moratoriums included.”

Cascador founder Dave Delucia highlighted that the programme combines financial support with leadership training and mentorship. “It’s not just about the money—we equip founders to use capital wisely and sustainably,” he said.

Delucia also noted that the funding will unlock more opportunities for startups to attract future investment from external backers.

Sterling Bank CEO Abubakar Suleiman lauded the partnership as a strategic step toward making young businesses more bankable and commercially viable.

“Between vision and success lies a valley of challenges. Our capital aims to bridge that gap and remove obstacles,” he said.

Cascador had earlier announced a $2 million Catalytic Fund in collaboration with Sterling Bank to stimulate growth in strategic sectors. This new $3 million disbursement marks another step in the mission to empower high-potential Nigerian enterprises.